The EU’s Energy Price Cap Will Not Succeed After months of wrangling, EU energy ministers finally agreed on the first-ever gas price cap, which is set to go into effect in February. The measure’s goal is to alleviate the crisis that has engulfed Europe over the last year as a result of unprecedented increases in …
Despite a lack of news to justify the moves, the British Pound is under significant selling pressure in midweek trade. The UK public sector borrowing data came in worse than expected, but the charts show almost no impact on the Pound after their release. By December 21, the Pound was down three-quarters of a percent …
Last week, the Federal Reserve increased interest rates by 0.50 percentage points, bringing the target range from 4.25% to 4.5%. The most recent action was in a string of rate increases intended to stop inflation. Although rate increases will ideally bring inflation under control, they could also cause the economy to sputter to the point …
The Economy Will Experience a Soft Landing in 2023 Read More »
Oil Prices Are Rising Oil prices rose, supported by a weaker dollar and a US plan to replenish petroleum reserves. However, concerns about the impact of rising COVID-19 cases in China, the world’s largest oil importer, limited the gains. Following a 76-cent gain the previous session, Brent crude oil futures were up 33 cents, or …
Tuesday’s surprise decision by the Bank of Japan to review its yield curve control policy and widen the trading band for the yield on 10-year government bonds caused the yen to rise to a four-month high against the dollar. The BOJ decided to widen the previously specified 25 basis point band for long-term yields, allowing …
The Dollar Falls as Markets Rebound The U.S. dollar fell on Monday as improved market sentiment lifted stocks and riskier currencies. At the same time, the yen rose on reports that Japan is considering revising a decade-old plan to combat deflation. After the U.S. Federal Reserve and the European Central Bank (ECB) raised interest rates …
Oil Is Bouncing Oil prices rose on Monday after falling by more than $2 a barrel the previous session, as optimism about the Chinese economy outweighed concerns about a global recession. Following the easing of mobility restrictions, China, the largest crude oil importer in the world, is currently experiencing the first of three anticipated waves …
The safe-haven dollar held just below the month’s high against the yen on Friday. Christine Lagarde, president of the European Central Bank, stated that this is not enough and the bank must continue the fight against inflation at a steady pace after the policy board raised interest rates overnight. The U.S. Federal Reserve also tightened …
The oil and gas are expected to reach $7.99 billion The oil and gas market was valued at $2.321 billion in 2021. Through methods like quality control, dwelling, exploration, tank and reservoir monitoring, predictive maintenance, and other techniques, artificial intelligence in the oil and gas industry helps to improve oil and gas output while also …
The oil and gas are expected to reach $7.99 billion Read More »
The Russian rouble recovered some ground The Russian rouble reversed some of its Thursday declines to reach its lowest level against the dollar in more than five months as a result of renewed pressure from the West’s price cap on Russia’s oil exports. Before recovering, the rouble fell to 64.95 per dollar in morning trade …
After falling on lower-than-expected inflation data the previous night, the dollar traded near its lowest levels in months against the euro and the pound on Wednesday. This fueled speculation that the Federal Reserve would announce a slower rate hike path. The U.S. central bank should raise interest rates by 50 basis points (bp) as it …
After Softer U.S. Inflation Data, the Dollar Declined Read More »
Oil prices rose after OPEC, and the International Energy Agency both forecasted a rebound in demand over the next year. US rate hikes should slow in tandem with slowing inflation. Brent crude futures were up 77 cents, or 0.911 percent, to $81.44 per barrel, while WTI crude futures in the United States were up 80 …
One of the few assets previously generating a positive return is now stuck alongside stocks and bonds in negative territory. Crude oil futures have fallen from over $130 in March to around $74. The front-month contract is down 2% year to date, which is better than the 10% decline in the S&P U.S. government bond …
The Russian ruble dropped to 63 per dollar on Monday as investors’ appetite for risk decreased due to concerns about the impending recession and pressures on global inflation. Investors were also anticipating the Bank of Russia’s rate-setting meeting. Markets are also expecting a flurry of additional interest rate decisions this week, including those from the …
Oil Continues to Fall Oil prices fell, deepening a multi-week decline. A weakening global economy offset supply woes caused by the closure of a key pipeline supplying the U.S. and Russian production cut threats. Brent crude futures were trading at $75.69 per barrel, down 41 cents, or 0.5%. West Texas Intermediate crude in the US …
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